New Caribbean Venture Capital Fund Finances a Jamaican Early-Stage Firm
By: , February 11, 2025
Photo: Contributed
Doorstep Jamaica Limited team members with advisors and representatives of the Development Bank of Jamaica (DBJ), and Mscale, LLC.
Photo: Contributed
Doorstep Jamaica Limited principals, Co-Founder and Chief Operating Officer, Javed Cameron (left), and Co-Founder and Chief Executive Officer, Victor Clemetson (centre), with Mscale, LLC Chief Executive Officer, Ugo Ikemba.
Photo: Contributed
Doorstep Jamaica Limited principals, Co-Founder and Chief Executive Officer, Victor Clemetson (left), and Co-Founder and Chief Operating Officer, Javed Cameron (right), participate in the recent agreement signing with Mscale, LLC Chief Executive Officer, Ugo Ikemba.The Full Story
Caribbean Venture Capital Fund (“CVCF”), a new VC fund inspired by the Development Bank of Jamaica, is pleased to announce that it has secured approval from its Investment Committee to acquire a stake in Doorstep Jamaica Limited (“Doorstep”).
The Fund, managed by CMGP LLC, a subsidiary of Mscale LLC, focuses on early-stage scalable businesses.
CVCF is a US$ 50 million fund targeting a finalise close in May of 2025.
Doorstep is a rapidly growing online delivery service.
This investment is aimed at accelerating Doorstep’s expansion within Jamaica, the Caribbean, Latin America, and eventually Africa.
This funding will help Doorstep enhance its platform, scale operations, and diversify its services to meet the growing demands of customers across the region.
In addition to food delivery, Doorstep plans to broaden its service offerings to include the delivery of groceries, medicines, and other essential services, addressing the needs of locals and fulfilling orders for Jamaicans living abroad.